maria: good friday morning. thanks very much for joining us this morning, o hope you are having a good friday i am maria bartiromo. it is friday, september 29, 8:00 a.m. on the button east coast, the united auto workers expecting to expand, to day 15 jeff flock live outside a

stellantis park distribution center warren, michigan. >> we expect to find out within two hours whether significant progress or whether it is going to and an fox business is told by source familiar with the negotiations that the talks are quote very active, and that everything is on the table. stellantis uaw apparently made counter proposal to stellantis progress? possible we don't often hear from uaw president fain but we will this morning at ten a.m. on facebook live, we know what happened last week, he said there it was enough progress announced strikes against stellantis and gm additional ones nonagainst ford believed props ford is continuing to make progress, both sides on negative side have been trading charges about violence

on picket lines. confrontation yesterday at plant that we were at truck trying to get in tried to run through picket line, caused quite a -- bit of a kerfuffle, police came in trucker was allowed to get in but that is thing keeps plants running ability of the trucks to come and o go, at parks facilities. how long could this last? i leave you with these numbers maria right now people on strike, get 500 dollars a week in strike pay. pt that costs union seven million dollars or so first week another 10 million in second week sounds like a lot of money. but if you look at the amount of money in strike fund it is over eight hundred million dollars. that would suggest if they so choose they could go on for awhile. we should know shortly maria. maria: yeah, wow. . this is costing money for sure jeff thank you so much jeff flock in michigan, former

president trump speaking to automaker. >> every time joe biden union political leadership talk about fair interesting to all electric cars american labor will be under siege it is not going to work for you. it can't work. if you want to live your are i don't lifestylehood way of life send a message join ultimately strike against globalist class cast your vote for a gentlemen named trump. >> let's get into it todd, trump makes obvious statement the fact that this climate agenda out of joe biden's administration, is going to mean fewer are automakers how does joe biden walk this balance of going with this

megaphone to the uaw, and acting like all union joe i am for union workers when his entire agenda is calling for less or fewer workers in the auto sector. >> key point donald trump made it who else in debate doug burgum made that puts joe biden in tough position every candidate asked about strikes needs to focus on joe biden. you don't pick a side in this beetle, i think if you are republican candidate because, i don't think a winner i think you off the off thecides business or workers all problems we see now will in future all relate to what you said maria, this push to give china, all of the benefits, and american worker gets the shaft yet again built in this circumstance, to your point maria, it could be on the scale like we've never seen before, because as of now, we

cannot make an electric vehicle without the the metals from china whereas we can make gas-powered vehicles without any foreign assistance that is a key distinction. >> i ask what does beijing have on joe biden? because he is so incredibly soft on china despite all provocation, you know, part of me doesn't really like the fact this strike has turned so political. we know they both want votes, right uaw has get to are intos joe biden he wants their vote donald trump wants their vote as well at the same time, somebody has to state the objects, donald trump stated the obvious going to mean fire workers bad foryy bottom line. cheryl: also going to be bad, for all workers that are not union workss working on down at supply chain also manufactured being taken out of their jobs, because of the strike, i think that directly,

that i'm sorry that rests on shoulders of shawn fain as far as biden what i thought interesting the white house did a bad job karine jean-pierre did trying to dv, president biden's actions, because, obviously, he is going for votes anybody could see that, but, you know, really, the white house traditionally should serve as mediator because this strike longer this goes on the worst it is for the economy the worst it is for people that have been taken off their jobs not union workers but nonunion works to be clear, the communities affected by this in michigan, ohio, specifically, so you know, to get off your political you know, pardon for a second president biden, and do your job as president of the united states, to help find a solution, to this. so that we can all move on.

yeah, sounds like a tall order cheryl. got to say, look at biden pows harsh reaction to a protester in arizona this is a climate the pro tester in arizona. >> why -- >> -- as long as gets -- >> why aren't you -- hang on i will be happy to meet with you after i speak okay fossil fuels if you -- stressed out i will meet with you after. i guess from both sides. cheryl: did not meet with that protester that protester was thrown out by security to be clear trying to talk legacy

of john mccain in arizona honor his friend they were friends tempe, arizona yesterday a climate change activist going against our climate change president ironic. maria: it was, john final word quick break. >> think about climate change, the biden program to dealing with greening of america heavily reliant on a lot more regulation i can almost guarantee you this promise is a lot of inefficiencies, promises that we're going to be looking at high priced evs of lower quality, and beneficiaries top level executives at these companies such as gm, ford, stellantis. great point, it is the end of the quarter, and could be the end of the line for the budget and spending we are probably seeing a government shutdown market up dow industrials up 140 a lot to talk about on the other side of this break.

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. my democratic colleagues say any one is relevant joe biden wasn't vice president while family did shady deals turns out complete and total [bleep] a lie hunter biden referred to access to father as keys to his family only asset those words are going to come back and haunt hunter biden and his family forever. that was south caroliha congresswoman nancy mace yesterday james comer now subpoenas for personal business bank records for hunter biden and uncle joe's brother jim biden joining me north dakota congressman armstrong member house oversight committee congressman thanks very much for being here this morning we have a lot to talk about i certainly want to get into

budget issues but let's start here. what did you learn yesterday from impeachment inquiry? what did get you in terms of the potential impeachment of joe biden? >> well, i think the most important thing is to lay our foundation. we know we're going to be challenged in court when we try and get this information we absolutely know that. i was -- dealing with it so the biggest number one goal outside everything else put u.s. house in best position possible to argue cases in court i think we laid out every reason, why we have a valid right to see those bank records this is just first step moving forward not -- been engaged 8 months trying to lay case out to american people gets economic development, the -- comely simple overall evidence five to six years when joe biden was vice president after vice president least until running for president something american people need to know about. yeah what do you think is the

most a damning of evidence? have i think i think the answer to that, we had hunter biden and his uncle jim biden negotiating in oil and gas deal between chinese communist party and russia using vice president as mechanism for shakedown on people when weren't getting paid. again that scheme started with jp was vice president continued while out offos continued up until the end while running for the presidency, we have to get the bank records we have to see where this all goes, then the bottom line is, if joe biden knew about help or encouraged in any way his son negotiating deals that are against united states' interest american people need to know. >> for sure emails you referred to oversight committee releases newly surfaced with what's ap meshz

said you have been drawn for purpose protecting dad you have 176 suspicious activity reports from banks, 20 shell company situation, why would with a sitting vice president, set up 20 shell companies, and why did those shell companies receive millions of dollars, from foreign adversaries? what with were they being paid for congressman? >> well, they have yet to tell us one single legitimate purpose there is to have legitimate reason to set companies up you said 107 -- sars, maintain from one company to another, to hide and try and blur lines where money is coming from where money is going the only reason to do that so we have to continue to to will the money trail, because the influence benefit doesn't have to directly go to him if he is engaged or knew about it in any way, that is i mean that is a crime.

if you are defense to that crime oh, we knew what our son was doing we weren't selling influenza we are selling appearance of influence your defense is called international fraud, we are going to continue down the path keep moving forward going to try to shade light on this for if american people the agencies in charge of investigating this didn't do a thing. yeah, seems like a cover-up up as welcome i know also investigation that is underway, but you identified policy changes that joe biden made? that he perhaps would have gotten paid for? for example, i keep bringing up the china initiative, because i remember the china initiative during the trump administration, where we actually saw indictments happening for people that were selling intellectual property to became sharing seeths to communist party paid for it mike pompeo shut down embassy,

going to shut down in san francisco for same reason the surveillance are you saying joe biden was actually making policy decisions, to benefit china and then pocketing the money? >> i do not know that yet i don't think we have that this is what is so frustrating you know rich for democrats to say no progressive irs tried to investigate it, it got shutdown fbi tried to investigate it, it shut down confidential asset so important to the fbi, exists they make us read in a classified scif tells things are going on gets shut down transition team interfered with fbi trying to, go on hunter biden the people of united states puts in charge of of these investigations, is intentionally chose not to investigate these things i think you are asking a great question i think a question we need to continue to answer, but we're going to take facts where they lead us going to continue to move forward. all right.

congressman let's move on to budget mess house republicans passing three funding bills, out of four that you are working on, you passed bill for homeland security state department the pentagon the bill agriculture food and drug administration failed to advance house approved 300 million dollars new aid to train ukrainian soldiers 1127 republicans voted "no" to that bill congressman will house be voting on continuing resolution, today? and are you expecting, that we will see a government shutdown because you still don't have full you don't have the votes? a. >> a yeah they met meeting in rules right now, i have a long ago not predicted whether or not we could even get a rule vote off floor unfortunate, this is going to end in cr, always was not going to reconcile 12 appropriations bills with sfat by saturday night not going to do it one week probably not able to get it done in two weeks the question is, why wouldn't we

go into that most conservative position in cr demand border security best position to investigate notrolled by white house or u.s. senate. >> kevin mccarthy posted on x, quote, if president biden stays on sidelines our border is destroyed day after day government will shut down democrats saying biden should not have shouldn't have the speaker mccarthy, vermont senator welch told hill mccarthy has no the capacity to deliver why would president talk to somebody who can't even get his own caucus together congressman? what do you want to say, in terms of joe biden? has he responded at all to any of this? >> one, he hasn't responded he should have been responding on border for since the first day of his presidency, outside of facing a government shutdown by any stretch this is worses

than any other time in trump administration this isn't just happening in tornados, newsom mexico in new york boston tent cities in chicago he should be actively engaged number one priority in his office but i also feel frustrated in that when we can't keep of our act together on house side why we worked with members of freedom caucus to deliver a conservative cr it makes our negotiating position tougher politically, the fact that this issue is absolutely a national security issue, doesn't seem to bother this white house we have to have biggest political advantage i don't think done best job we could have doing that. >> certainly also seems like there is some personal vendettas against the speaker but congressman quick before you go, if we have government shutdown appears likely how long do you believe you need to finish of appropriations process. >> i don't -- i think we can work our way through 12 appropriations bills you saw yesterday, three out of four open rule works well but this is always going to end this cr

there is no way going to negotiate 12 even that have a shutdown extremely long we have -- going to take a lot of time to reconcile these with senate again i wish -- republicans should put ourtsdz most conservative position possible. >> thanks very much for being here. >> thanks for having me. >> all right. congressman kelly armstrong stay with us. we'll be right back. .

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it's not just possible. it's happening. quarter we have a rally underway near highs right now dow industrials right now 77127, nasdaq up 104 s&p 500 higher by 23, we are waiting for the august pce report out five minutes' time economists expecting core prices up 2/10 of a percent month-over-month, 3.9% year-over-year this could be a market mover the federal reserve's preferred inflation reading, joining us right now cross chief market strategist victoria fernandez what are you expecting what do you attribute this rally in stocks this morning. >> i think maria when we look

what stocks are doing most can be attributed to the fact 10-year yields hot, cycle highs now we have come down around what ten basis points last 20 hours gives bears in market a little bit of breathing room we've seen equities rally a little bit it could be, that pce the expectation is that it is not going to be as hot as maybe many people thought especially with the price of oil going higher strikes that we're seeing in pressure that is put on wages maybe expectation that is going to be a little bit tamer but i would be very cautious, i think those two elements alone wages, oil going to continue to put pressure on inflation, and we can see headlines and core months move higher over the next couple months. maria: that is what i was thinking because price of oil up again, hovering around 92 dollars a barrel or so, but a lot of people think that it is

going to 100, do you think this move in oil continues higher? >> i think it does, i mean a lot of people say well is it demand or is it supply that is causing this i think really a combination of the two. we've seen china come back a little bit. in regarding to their economic activity, and so maybe demand comes up a little bit we are going into a winter months heating, needs are there so we could see demand increase. at the same time, we know supplies are low, spr is low we are almost operational month, in oklahoma, cuts are going to continue from some peck countries so i think we've got both the supply, and a demand issue going to have to solve to me means continue to see oil higher means going to see some energy stocks, continue to do well could be a place that you want to put money to work in your portfolio. maria: great point, you've

been calling for a pullback, or a mild recession, toward the end of the year. and i am wondering if that is worsened if oil goes up i mean let's face it if gasoline cuts into people's wages they may pull back on spending elsewhere, so does the high price of oil exacerbate your expectation for recession. definitely feeds into that theory, we know that higher gas prices, on discretionary spending from consumers we saw you consumption lower than expected consumer confidence at a four-month low so you look at elements you have to believe that you are going to get the consumer pulling back, although we are going in to a very strong seasonal quarter going into the holiday season so you could have some buffering people spending on credit cards doing things because of a holiday, but i still think, higher oil higher gas, and is going to cut into

-- combine that with wages that are calming a little bit ambiguity go higher because of the strikes we're seeing not just from uaw but from culinary workers in las vegas healthcare workers a snowball effect i think a lot can hit consumer will add to pull back. maria: strikes going on quick john what are you expecting to look at we're getting to cheryl 30 inthaekdz are you focused on with pce. >> i do a close look consumer price inflation, you know that is going up 5.2% year-over-year calm down consumer service with prices if fed kiss finally going to revises its goal 2% core pce. >> we are waiting on the core expected to be you up 2/10 of a percent year year, 3.9% headline number 5/10 year-over-year up 3 1/2% income spending up 4/10

numbers imminent market rallying for august, personal income, and pce number dow industrials right now, up 177. nasdaq up 123. and s&p 500 higher by 25. cheryl is going to give numbers coming up, then, of course, all hand on deck for the earnings story, cheryl has numbers now. cheryl: i do, i want to get to pce because that is the key inflation data looking at pce price index for august everybody, if you look at year-over-year appears in, in line 3 1/2%, 3.5% that is headline number that including energy obviously, you have speaking about if you go to core that also came in line 3.9. so that i think is interesting because look, that is the number, that the fed ties their inflation their 2% target to that is 3.9% that is

fed story there, again let me go through each, every number full data, back to spending income, .4% that was in line month-over-month for spending, .4% month-over-month, that is in line for income, going down to the pce price index, month-over-month .4%, headline that is a little bit weaker than expected on month-over-month basis but, again, i think that we've got to emphasize here year-over-year pce price index numbers really count that is what i am looking at 3.5% is in pipeline on headline basis, the core, month-over-month, 1.excuse me .1%, .1% that is a little bit under the .2%, estimate we got from economists again finally, finer point 3.9% in line core year-over-year ro, the pce price index this is not 2% maria, this is 3.9%. what does fed do with that

information? . >>. maria: great point they want to get this down to 2% we are not there your thoughts. >> i think fed responds to this report keeping fed funds at 5.38% that is exactly what the market has done expecting, this morning, fed funds futures, supply i am publicized, 1, 7% likelihood high at november 1 this is good news for those that are worried about higher interest rates, and perhaps, this helps to explain why we've had 10-year pressures bond yield, over the past day. . >> to break it down heritage foundation research fellow public finance economist, pennsylvania congressman house financial services committee

member dan, victoria fernandez, john lonski todd piro great to see you. thanks for joining the conversation e.j. your thoughts on numbers where we are in terms of economic growth story. >> maria, unfortunately we are continuing to see hot inflation prints the reason for that because we continue to have elevated levels of government spending, frankly i thought it was a appalling when as you the iran goodspeed chicago fed president said inflation trending towards 2%. it is not. monthly data since june last year analyze it you can see inflation has been trending towards more like 3% not 2%. respectfully i don't think fed pausing the rest of the year i think going to get another rate hike they have essentially been instituting 1.8 percentage hikes alternating between quarter point raises and pauses they need time for balance sheet to

watch up i think their plan moving forward. dan the fight you are in right now has meant, incredible amount of spending. out of this administration, and the democrats that has -- you know, stoked this inflation. that we're talking about, that has stoked the federal reserve to raise interest rates 11 times do you see any end to that do you see any reversal in terms of massive spending out of your colleagues. >> certainly. republicans are -- majority not see huge tran chez half a trillion here a trillion there inflation reduction act, misnamed bill ever, of 2 trillion-dollar, you are not going to see any of that, yet much of that carry over from spending bills, is hitting our deficit this year, i mean very, very, our deficit is going to be 1.8 trillion

dollars this year this is why we are trying to offer a stopgap initiative has reasonable fiscal sanity to it moderate reductions but at the same time significant enough 8%, in long with deal trying to broker here, there would be border security, unmitigated disaster, yet as you well know, on this issue we've got five or six may be seven republicans standing in 2 way because not strong enough yet we have 213 all democrats standing in way of it, i mean more agreeable to government shutdown than they are shutting down the border. so, i agree with your previous guest, how that level of spending the assault on the american energy industry, is creating inflation, it is not going anywhere, for at least a year year and half every economic analysis comes out we're not getting near 2% until if lucky '25.

>> todd piro clearly stated by republicans they want answers, they want action on the border. and yet, even with kevin mccarthy tweeting bought the speaker of the house saying look the government the shut down if joe biden stays on sidelined they haven't seen heard from president not even getting involved. >> i think because every situation we've seen like this in past there has been a coming together each side says the other side caved, but if you read between lines on this maybe i am naïve i really do believe that kevin mccarthy is not bluffing this time that there is a willingness to shut down the government, if you hear people in congress you talk to them sort of owed what we do on tv you sort of talk to them off the record you have also get that sense as well. ment of i do have a question for money people, because i follow this on a periphery if you will i was told that next year in 2024, we are guaranteed four rate cuts, my

gut instinct tells me if we continue to have reports like this, and you can't cut anything, in 2023 and in fact to one e.j., tony's point if we raise one more time in 2023 will they drop in 2024 i leave that open to any smart people on panel to answer. maria: victoria that is one of the reasons stock market has been rally on this expectation that the fed is going to cut rates, i don't know, you know better. i would expect the fed only way going to start cutting rates is if we go into a severe recession does it get much worse before it gets better? >> if this is exactly what we've been talking to clients about all year, that there should have been no expectation, for rate cuts this year, the fed isn't even done hiking possibly yet people already wondering when cuts start i think we are going to be in higher for longer period and part of the reason market came down over last couple weeks i think costuming to thes realization

wait a minute maybe fed is going to do what saying they are doing they are going to hold rates higher going to let 525 basis points work their way through the economy which is going to cause more pain. for the economy and for the consumer. i would not look for rate cuts until at least middle next year i know previously the market was pricing in four rate cuts that is now down to two or three rate cuts, i would say we could see that number come down more another reason after the last fomc meeting i think we saw rates shift higher fewer cuts getting priced into the market. maria: but to be clear, you know, john lonski the federal reserve is going to lower interest rates, to stimulate the economy that is the whole point of lowering interest rates to stimulate the economy. there are not going to stimulate economy while inflation is hot we've got to see a downdraft in the economy

for them to feel the need, to cut interest rates, so again, does it get worse before it gets better. john: , you are exactly right you're not going to get a rate cut until the economy falters you see jobs growth all butt disappear at that point fed contraction begin to cut rates when fed starts to cut rates probably telling is we're about to enter into if we are already not in a recession as you stated previously. you don't get rate cuts without a recession period. maria: e.j., the markets rallying on this report, dow industrials up 20 8 points i know part is portfolio managers positions for end of the quarter, but assess where we are with here in terms of the macrostory, do you expect this inflation scenario to take us into a recession next year? >> the oh,, absolutely, maria. in addition to end of the month i think we also are

seeing covering of short positions right now, but as far as the recession goes, look you cannot spend borrow and print trillions upon trillions of dollars not expect negative consequences, i just don't know when as a country, we forgot that but we absolutely are heading towards a recession. look at what the 30-year treasury has done this is i think is going to be hottest month in terms of gains on yields on 30-year treasury, excuse me hottest quarter since 2009, i mean again you cannot do what federal government has done 2 1/2, three years not expect going to take us into a recession. unfortunately, we probably are going to get there by the end of the overbeginning of next. >> cheryl. cheryl: i been looking at these numbers digging into them as all going through them as well here, what i can't understand is to be clear with you is that, i would have thought year-over-year headline numbers would have gone higher to your point of because of energy prices. that is a little bit of a surprise to me in this data.

i will also say that if going to spending income data, the -- wages and oil prices that was oil prices energy looking at wages, what i think is interesting here with wages is that coming in line with expectations, still up .4% all of this. this inflation is very, very stubborn, and we can talk about the fed you know till blue in the face until numbers to your point you already said this until they come down fed not making moves that the market wants it to make. really quick maria i also want to point out you were talking about government shutdown request congressman a few moments ago we're not getting data if government shuts down not getting jobs' report the, not cpi, ppi, we aren't getting anything investors have to be kind of flying blind if you will. um-hmm, dan what does this

mean for your work this weekend are you expecting a government shutdown? >> yeah, maria. unfortunately, i am at this point. the -- i just a few days ago i thought we had a shot at coming to a resolution because what we're -- serving in house is an excellent first step to send over to the senate then negotiate from there what is what happens here but since very difficult to get that passed our stop gather bill we will be voting on before 1:00 today, hopefully we pass it, but even by passing it negotiating time with senate, will take us into a shutdown. the senate is prepared with its own bill, working on it now maybe trying to add some homeland provisions maybe acceptable to some on my side the house side but we're going to be hitting, hitting a shutdown, and then we hopefully will be very short,

i mean you know day two, three, four, a week so that is -- that is the unfortunately situation at this point. we need so-called cr, as my colleague kelly armstrong was saying we ran out of time not trying to make excuse for it we did that is reality, and, frankly, should exercise will all populations before siting down government i will tell you this "bidenomics" is a lot worse. maria: the shutdz biden-schumer shutdown, colleagues trying to get meeting with president he blew them off umpteen times now not appearing a peep from him about your ask for some policy changes at the border. >> completely accurate, maria, they are willing to shut down the government because they don't want to shut down the border, not a cliché that is

the situation. kevin mccarthy has been working tire leslie at this, we all have, oi we've been voting till midnight every night getting appropriations done just to show the direction we were going in. biden administration sees political advantage they see is a shutdown federal government as political advantage to them frankly, that comes before policy and interest of american people when it comes to this white house because "bidenomics" is a failure spending a failure assault on our energy is a failure, everything they do is frankly upside down backwards has nowhere near wishful thinking outcomes that they try to portray in the media. >> victoria markets up 211 points as investor what do you want to do buy this rally or sell it? >> no. i think i would be trending names here, maria i am not in belief that we have a sustained bull rally here so

if you've got names you are overweight because of this trim some names cake that cash move into maybe more defensive names as talking all morning we do see more of a pullback coming through end of year skoundz retail names tj.j. or a.i. without mega cap even, adobe names we both own i think you have to be tactical opportunistic, for overweight take that profit. >> having earnings season upon us going to be talking about third quarter reports about a week and a half john lonski where i think we are going to see the -- we have breaking news to report right now i want to stop in tracks, this is crossing right now, california senator diane feinstein has died age of 90 was oldest serving u.s. senator member of congress, at the beginning of this year,

she announced that she would retire from congress the end of 2024 after three decades in senate over 50 years in public office, our condolences to her family senator diane feinstein has passed away at the age of 90. after more than 50 years in public service, three decades in the senate dan, we're all sending her family condolences your reaction, have you seen diane feinstein anywhere recently? or has she been, sick so much that actually was not in senate for the past several weeks? >> i have not seen her personally. she was there voting some certainly very sad, our condolences go out to her family and her friends. the lady put a lot in service over the years, probably from

policy standpoint, i am sure i didn't agree much, however,, she was a strong woman. >> a strong woman, and certainly was a public servant for so many years, edward lawrence is covering the story senator diane feinstein has died at the age of 90 years old after 50 years in public office, edward lawrence in washington with more he had ward what can you tell us? >> -- edward lawrence not with us yet we will get back to him, what does this mean for the breakdown in the senate and the house, e.j. jump in on that because, of course, we know, that we are talking about a senator who chuck schumer was countsing on for votes, where also looking at, the senate, now in have condolences for diane

feinstein e.j. let's get facts from edward lawrence live at the white house. >> we are now, fox news able to confirm senator diane feinstein did pass away, i can tell you yesterday, she voted in the senate once in the morning but missed two afternoon votes yesterday, there were reports this morning overnight medical activity, we talked -- at her house in washington d.c. senator in 1992 in office 31 years in the past recent years, year and a half had failing health a lot of health issues but we confirm that senator diane feinstein passed away, going to open up political problems for the democratic party because as you know they have a slim majority in the senate so going to have to figure out who is next in line, who is going to be pointed by governor gavin newsom to the position of senator in

california going forward. but as of right now sad news just come into fox news that senator diane feinstein passed away. maria: e.j., what about that thank you edward launders e.j. what about that in terms of breakdown in the senate versus the house? >> well first our thoughts prayers obviously, go to senator's family. as far as politics in senate go, while senator feinstein, was a reliable vote for chuck schumer, when it comes to the current, fiscal we see right now unfortunate i don't know if actually going to make that much of a difference at all because we have so many republican senators frankly help bent on funding ukraine border security more than our own, at that point i am not sure if this actually is going to have that much of an impact at the end of the day, at least from current fight. cheryl: i was looking i want to say, i want to honor her

for just a moment she did her life was, a life of service. and she was very well respected, obviously, heartbreaking for her family but after six terms in united states senate, this is a mentioned 31 years also was mayor of san francisco spent three terms as mayor of san francisco, ran for governor, a failed bid for governor in california this is the woman spent her entire life, in the service of for the state of california, for the people of northern california, san francisco for the nation, and i think that it is certainly this is time i want to take to honor the life of diane feinstein, as you can see on screen longest serving women in the united states senate i add to edwards' reporting here at this point you know she has been serving still has spots on appropriations spots on

judiciary, this is going to be, i think there has been preparations already put in place gavin newsom has certainly reportedly been in discussions already about who would be her temporary replace meant todd piro can add to that reporting as well, this does this is going to be a bit of a political football, yes, but again just to honor the life and legacy of her she really was i think an amazing, woman in our history. and. maria: kwoo absolutely. >> rest in peace. >> yes rest in peace thank you for doing that you are absolutely right todd? todd: we needed to be mind fum of family of senator diane feinstein in discussion forward what happens offering condolences former mayor san francisco diane feinstein will need to be replaced by another former mayor of san francisco, gavin newsom, it isn't just

within state of california not just within, the u.s. senate because, obviously, all eyes on gavin newsom to potentially replace joe biden if joe biden doesn't run for president in 2024. so, the individual that is ultimately pitched for this position not just going to be important because they will be one of 100 that will finish out diane feinstein's term which ends this year going to be a look at who is this individual and what does this individual show about gavin newsom's thought process if he were to run for office in terms of who he would take as a vice president. a lot of speculation, and a lot of scrutiny will go into this pick. . >> host: is-- >> isn't it proshl to know as you reported three terms mayor of san francisco ended her life, in that vein by voting yesterday, in the senate in morning, here is a look at the

senator's career through the years. . >> the myth that woman can't play in big league perhaps pierced once and for all. >> before united states senator 1992 diane feinstein was a political pioneer in home state of california. >> in 1969 feinstein was elected to san francisco's border of sprufrz a year later first family -- it wasn't triumph catapulted her into spotlight, both supervisor hardy -- have been shot and killed. >> 1978 san francisco mayor george must choni supervisor harvey millk murdered by former colleague friend of feinstein their death she said would shape hour political.

>> first mayor of san francisco serving two terms led her. washington d.c., born with german jewish roots eldest of three girls lee owner and goldman in the presidio district the childhood far from idyllic, emotional abuse at hands of mother suffered from mental illness her relationship with father feinstein credited for success leon goldman was a conservative republican but was feinstein's paternal uncle introduced her to politics, two ideologies feinstein learned a approach to political issues i am honored to be elected to full six-year term, during three decades in

u.s. senate feinstein was a woman of firsts the first woman to chair senate select committee on intelligence, in 2002 he voted in favor of iraq war a decision she would later come to regret. >> it is clear today, we must change course. >> in 2014 feinstein defied president barack obama releasing the torture report, a six year review of cia detention interrogation program in declassified report the passage of legislation, ensuring that post-9/11 interrogation -- methods never used. >> history will judge us by commitment to adjust society governed by law the willingness, to face and ugly truth. >> in 2017 feinstein became the top democrat on senate judiciary committee, the first woman, to assume that roll. she

>> is brett kavanaugh who we want on the most prestigious court in our country? is he the best we can do? it's about the integrity of that institution and the integrity of this institution. if. >> two years later, feinstein would face what she called her hardest vote many 26 years, the first impeachment of president donald trump. >> there's a great weight to do the best thing for the united states of america, and that's not always easy to know. >> reporter: she'd said is her proudest achievement was the enactment of the the federal assault weapons ban in 1994. >> the fact is that the assault weapons ban worked. we've seen and we continue to see the cost of inaction. >> reporter: despite many on capitol hill questioning her mental fitness, feinstein kept on fighting, refusing to step down early. she planned to serve out her term which ended in 2024.

maria: and fox news has elevenned that they have -- learned that they have just put flowers on feinstein's desk in the senate, an incredible woman. let's get some final thoughts before we go, cheryl. >> well, she was an icon for women. in washington, in politics across this country. she, as you just saw in that story, you know, some of the biggest political moments, some of the biggest crises that in particular was faced in the city of san francisco, she was there. maria: yeah. >> and i think that she should be remembered and, again, be honored for being an inspiration because, look, let's be honest here, after six term des in the senate, being a woman six terms ago in the senate could not have been easy -- maria: that's right. >> and she was a survivor. she made it through shingles in february of this year, this horrible, painful condition -- maria: yeah. >> -- and she came back to

washington, maria. maria: yes, she did. she kept going back to work. todd, your final thoughts. >> at times like this, we really need to step back from the if bicker, partisan fighting and look at this individual for who she was and what she representedded. to cheryl's point, to so many women but also so many people who aspire to serve their countries. now we have to think about what comes next and, obvious, all the names being bandied about, katie porters, adam schiffs and barbara lee. if you recall, gavin newsom did say he is expected to appoint an african-american woman, all eyes point to barbara lee, but we will see. there's time for that, and that time isn't necessarily now. maria: well, you're right to bring up adam schiff. he certainly wants a senate seat. rest in peace, dianne feinstein. our sincere condolences to her family. wrapping it up here, dow industrials now at the highs of the morning up 209 points. we did get inflation data this morning, continuing to show that

we have an elevated inflation situation. final thoughts on that, e.j. antoni. >> maria, again, until we get government spending under control, we are stuck with both high interest rates and high inflation. the fed and the congress are essentially working at cross-purposes right now -- martha: yes. >> -- and so the pain is going to continue until we get this solved. maria: and we are expecting a government shutdown on saturday night at 12:01. ej an tone know -- e.j. antoni, cheryl a casone, todd piro, thank you, everybody. i'll see you tonight, 7 p.m. right here on fox business. stu, take it away. stuart: good morning, maria. it's great to be back, and we have a big friday show for you. about an a hour from now roughly, we'll find out if the auto strike will be are extended. fox business has learned that negotiations are active. while the union has over $800 million in their strike fund, in